I've done this for several years now, with no problem, with the 2TB version and with La Cie's larger desktop 4TB models that I got a while ago. However, be aware that your time machine backups will expand to fill the space available for them, which may constrain how much data room you have unless you decide to store a limited number of files on the device before you start storing time machine backups. Once the drive is nearly filled with whatever combination of general storage and time machine backups is on it at that point, Time Machine will keep adding new backups but deleting the old ones, and you won't have much if any space for new general storage files on the drive.